News Topic: Data privacy

The company's new agreement with Envestnet Yodlee to share customers' account data over secure pipes is its 17th pact with aggregators and other fintech firms. ... Read full article

Credit union issues could struggle to gain traction as lawmakers battle over a replacement justice. ... Read full article

Financial firms could lose access to data that’s critical to their businesses if Congress passes a privacy bill. To change lawmakers’ minds, they need to show how data in the right hands has the power to improve customers’ lives. ... Read full article

Banks, data aggregators and fintechs have clashed for a decade over how consumers’ bank account data should be shared with third parties. The agency says it will offer a plan, and industry officials have plenty of suggestions already. ... Read full article

The IBM-BNP collaboration and other new developments show that high-profile breaches haven't deterred banks from using the cloud to store data. ... Read full article

The Federal Financial Institutions Examination Council is best suited to craft uniform policies to protect consumer data. A patchwork of state rules is cumbersome. ... Read full article

A class action asserts that the data aggregator accesses more of consumers' bank account information than it needs and ultimately aims to sell the data to others. Plaid, which has agreed to be sold to Visa, denies the allegations. ... Read full article

Technology has helped banks expand globally, but complying with country-specific laws restricting data flows is a constant struggle. ... Read full article

Financial institutions have been monitoring workers' productivity at home with tracking software and webcams. Now they're mulling whether to mandate contact-tracing apps, COVID-19 testing and other practices that could raise further privacy ... Read full article

The Comptroller's Office has provided banks with guidance on how to structure relationships with data aggregators. Now the bureau needs to focus on the bank-consumer connection. ... Read full article

CFPB Director Kathy Kraninger promised to complete the rule mandated by Dodd-Frank one day after a California court set a process for doing so. ... Read full article

Bankers groups are keeping close tabs on a host of legislative and gubernatorial proposals, from prize-linked savings accounts in Iowa to rent control in Massachusetts to a slew of bills modeled after California's recently passed data privacy law. ... Read full article

Liability for missteps by vendors, jurisdictional headaches tied to locations of servers and legacy technology are other potential impediments. ... Read full article

Banks in the U.S. should take note of these requirements before opening their systems to third-party developers. ... Read full article

The current climate is akin to the Wild West, with little protection for the consumer, and new regulations are needed if the technology is to continue to expand in a safe and sustainable way, argues Mitek's Stephen Ritter. ... Read full article

Banks are increasingly sharing data and must brace for new regulations protecting that data. ... Read full article

Questions about the search giant's planned use of transactional data resonate not only with wary consumers, but also with banks that are worried about big tech’s financial services ambitions, as well as lawmakers and regulators concerned about the ... Read full article

Consumer identities are becoming increasingly digital and more prone to privacy risks. Lawmakers cannot sit idle. ... Read full article